Gurugram: Fortis Healthcare Limited (“FHL” or “Fortis”), one of India’s leading healthcare delivery companies, announced definitive agreements for the acquisition of the 125-bedded People Tree Hospital in Yeshwanthpur, Bengaluru (“PTHY”). The acquisition will be executed through its wholly-owned subsidiary International Hospital Limited (IHL), marking a significant step in Fortis’ cluster-focused growth strategy in Bengaluru.
As part of the composite transaction, IHL will acquire TMI Healthcare Private Limited (“TMI Healthcare”), the entity operating PTHY, along with the hospital building, underlying land, and an adjacent land parcel from an independent third party. The cumulative transaction value stands at INR 430 Crs, inclusive of debt residing with TMI Healthcare. The deal is subject to customary closing adjustments and is expected to be consummated by the end of January 2026.
PTHY, a NABH-accredited multi-specialty hospital, is strategically located in North-West Bengaluru within a dense residential catchment and expanding commercial hubs. The hospital offers key specialties including Cardiac Sciences, Orthopedics, Neuro Sciences, Renal Sciences, and Gastroenterology. With the acquisition of the adjacent 0.8-acre land parcel, Fortis plans to expand the facility’s capacity to 300+ beds.
In addition, Fortis has earmarked a further investment of ~INR 410 Crs over the next three years to enhance bed infrastructure, medical equipment, and clinical programs, including Radiation Oncology. With current hospital revenues of approximately INR 74 Crs (FY25), the company sees strong potential to strengthen operations, enhance profitability, and drive long-term growth.
Commenting on the development, Dr Ashutosh Raghuvanshi, MD & CEO of Fortis Healthcare, said, “The acquisition is in line with our vision to expand our footprint in focused clusters and enables us to leverage the benefits of scale and synergies. The acquisition is a strategically important addition and will further strengthen our position in the Bengaluru market, where we already have a significant presence across seven facilities (including O&M facilities) with a potential to scale up to 1500+ beds from 900 beds currently. The adjacent land parcel will further strengthen the spectrum of healthcare delivery offerings at this facility and enable us to deliver exceptional clinical care ably supported by an experienced team of clinicians.”
Dr Jothi Neeraja, Founder, MD & CEO of People Tree Hospitals, added, “People Tree Hospitals co-founded with Dr. Upendra Kandluri, has always been guided by a vision of ethical, patient-centric and high-quality care. The strategic transition to Fortis Healthcare marks a pivotal milestone in this journey – reflecting our unwavering commitment to clinical excellence and robust governance. With Fortis’ extensive resources and expansive clinical programs, People Tree Hospital, Yeshwanthpur is now poised to reach new heights while upholding its founding values, ensuring continuity, modernization and long-term benefits for both patients and employees.”
